Corn futures are called 1 cent lower. Overnight trade was 1 1/4 to 1 1/2 cents lower. Speculative selling and weaker metal and energy prices are expected to weigh on the market. Fundamentals remain mostly bearish. Export demand has been strong the past few weeks, but stocks of corn remain large.



Soybean futures are called 2 to 3 cents lower. Overnight trade was 2 1/4 to 3 1/4 cents lower. Light speculative selling is expected on the open as precious metal and energy prices have eased. South American production prospects will remain a market factor. Weather conditions are generally favorable in Brazil.



Wheat futures are called 1 to 2 cents lower. Overnight trade was 1 1/4 to 1 3/4 cents lower. The market is consolidating the recent run to contract highs at the KCBT and MGE. There has been some talk that some much needed rainfall will develop later this week in the Plains, but not all forecasts are in agreement.



Cattle futures are called steady to mixed. Very little cash business was done last week, so packers are short-bought. On the other hand, showlists will be larger. Packer margins remain in the red, but an uptick in wholesale beef prices along with strong beef movement has contributed to ideas that the cash market has found a near term bottom.



Lean hog futures are called steady to higher. Cash markets are expected to be firm to start the week. Pork cutouts were 27 cents higher on Friday. For the cash market to continue higher, pork cutouts will need to show strength again this week.